Manufacturers National Bank - Mechanicville, NY

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 5037
Charter Number: 5037
Start Date: January 23, 1904
Location: Mechanicville, New York (42.903, -73.687)

Metadata

Model: gpt-5-mini
Short Digest: 72002160

Response Measures

Accommodated withdrawals

Other: Bank officials publicly reassured depositors; other deposits exceeded withdrawals.

Description

Several newspapers report a slight run on Manufacturers' National Bank in Mechanicville on Jan. 23–24, 1904. Withdrawals were modest ($6,000–$10,000), deposits exceeded withdrawals, and officials expressed no fear of continuation. No suspension or closure is mentioned.

Events (1)

1. January 23, 1904 Run

Cause: Bank Specific Adverse Info
Cause Details: Withdrawals by operatives (reported as 'panicky girls') possibly sparked by a recent small loss (~$12,000) in a Stillwater mill transaction, though officials called the run absurd.
Measures: Deposits made by others exceeded withdrawals; officials publicly downplayed the run and expressed no fear of continuation.
Newspaper Excerpt: There has been a slight run upon the Manufacturers' bank of Mechanicville, $6,000 being withdrawn from the savings department... the bank officials do not fear a continuation of the run.
Source: newspapers

Newspaper Articles (3)

1. January 23, 1904 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, January 23, 1904

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Article Text

Run on s Savings Bank. SARATOGA, N. Y., Jan. 23.-There has been a slight run upon the Manufacturers' bank of Mechanicville, $6,000 being withdrawn from the savings department of the bank by operatives of the Mechanicville and Stillwater mills. The deposits made by others exceeded that amount, and the bank oketals do not fear a continuation of

2. January 23, 1904 The Bennington Evening Banner Bennington, VT

Article from The Bennington Evening Banner, January 23, 1904

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Article Text

Run on a Savings Bank. SARATOGA, N. Y., Jan. 23.-There has been a slight run upon the Manufacturers' bank of Mechanicville, $6,000 being withdrawn from the savings department of the bank by operatives of the Mechanicville and Stillwater mills. The deposits made by others exceeded that amount, and the bank officials do not fear a continuation of the run.

3. January 24, 1904 The Times Dispatch Richmond, VA

Article from The Times Dispatch, January 24, 1904

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Article Text

BANK RUN CAUSED BY PANICKY GIRLS (Special to The Times-Dispatch.) TROY, N. Y., Jan. -There was a run this morning on the Manufacturers' National Bank, of Mechanicsvilba, when a number of girls employed in the Union Knitting Mill, withdrew their accounts. This afternoon the run continued, but the withdrawals were only about $10,000. President William L. Howland and Cashier Newton T. Bryan stated that the run was absurd. The run may have started from the fact that a small amount was recently lost in a Stillwater mill transaction, but only about $12,000 was involved in the deal, and the claim was IF sold for nearly the face value.